Student Loan Delinquencies on the Rise

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Student Loan Delinquencies on the Rise

Student LoansIn its Q4 2014 Household Debt and Credit Report, the Federal Reserve Bank of New York noted that the student loan delinquency rate is worsening. You can read the full report here.

According to the report, student loan debt increased by $31 billion from Q3 2014 to Q4 2014, with outstanding student loan balances now standing at $1.16 trillion as of December 31, 2014.

The report also noted that the student loan delinquency rate (defined as payments 90 or more days overdue) worsened from 11.1% in Q3 2014 to 11.3% in Q4 2014. Student loans now have the highest delinquency rate of any type of consumer debt, more than credit cards (second at 7.3%) and auto loans (third at 3.5%).

Below are some articles to help you learn more about student loans and your options for education funding.

  1. Student Loan Basics 
  2. Sticker Shock – Creative Ways to Pay for College 
  3. Student Loan Repayment 
  4. Repayment Options for Student Loans 
  5. Strategies when you can’t pay off student loans 

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